New Issue: Morgan Stanley prices $250,000 buffered PLUS tied to Russell, S&P

By Kiku Steinfeld

Chicago, Dec. 29 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due Feb. 29, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above the initial level, the payout at maturity will be par plus 125% of the gain of the lesser performing index, subject to a maximum return of 21%.

If either index falls by up to 10%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying indexes:	S&P 500, Russell 2000
Amount:	$250,000
Maturity:	Feb. 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 125% of return of lesser performing index, subject to 21% maximum return; if either index falls by up to 10%, par; otherwise, 1% loss for each 1% decline of the worst performer beyond 10%
Initial levels:	4,470.00 for S&P, 2,213.979 for Russell
Buffer levels:	4,023.00 for S&P, 1,992.581 for Russell; 90% of initial levels
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	2.6%
Cusip:	61773FLG6

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